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Israel: The Med’s Best-Kept Secret

1.  Bankruptcy rate in Israel is one of the lowest in the world (19% increase during the first half of 2009), compared with the US – 45% increase, Spain – 58%, Spain – 75% and Switzerland – 15% (Yedioth Achronot, July 27, 2009).

 

2.  The Tel Aviv Stock Exchange has rebounded to its September 10, 2008 (pre-meltdown) level, scoring a 50% surge (Yedioth Achronot, July 27).

 

3.  Sequoia Capital and Tanya Capital led a $15.5MN round of private placement by Israel’s Kontera (Globes, July 24). Intel Capital, Cisco, Greylock Ventures and Menlo Ventures participated in a $13MN round by Israel’s AeroScout (Globes, June 29). The Boston-based medical giant, Medtronics, invested over $10MN in the Israeli VC fund, TriVentures (Globes, June 23). Motorola Ventures, Stata Venture Partners, Argonaut and Walden participated in a $10MN 4th round by Israel’s Amimon (Globes, July 15). Arts Alliance Digital Ventures invested $9MN in Israel’ YCD Multimedia (Globes, June 23). Innogest, Italy‘s largest venture capital fund, invested $8MN in the Israeli-Italian company, beeTV (Globes, June 4). The Boston-based Globespan Capital and Spark Capital invested $7.5MN in Israel’s 5min, their 3rd investment in Israel (Globes, July 24).

 

4.  Intel Vice President for Technology and Manufacturing Group and General Manager of Intel Israel (6 plants, 6,500 employees!), Maxine Fassberg: “We have developed breakthroughs in Israel that have changed the face of computerization… In Israel, we are developing and manufacturing network and communication products as well as microprocessors – in parallel to spearheading the mobile domain in Intel Corp. Among the technologies developed here re MMX, which constitutes the basis of the Pentium processor, platforms for Intel Centrino mobile computers and the Intel Core 2Duo processor.  In addition, the first fast Ethernet and first wireless LAN (Local Area Network) were developed here…(Jerusalem Post, May 23, 2009).

 

5. The Med’s best-kept secret (Willy Stern, The Weekly Standard, July 27, 2009):

 

“Perhaps nowhere else on the globe does there exist a greater discrepancy between perception and reality than Israel. The press portrays the country as a savage land racked by war and terrorism… The reality, though, is a country of 7.4 million people whose stock market and economy are humming along quite nicely (at least in contrast to the rest of the globe) and whose citizens revel in their chic Mediterranean lifestyle…

 

“In Israel, life goes on. The Western newspapers just don’t notice… Israel today has become a vibrant, functioning jewel of a nation tucked into the eastern flank of the Mediterranean. Tel Aviv looks more like San Diego or Barcelona than Baghdad or Kabul. On a recent five-mile run along Tel Aviv’s Gordon Beach, I saw Israeli yuppies cycling the boardwalk on $1,500 Italian mountain bikes, teenagers in full-body wetsuits surfing the breakers, a deep-cleavaged Russian model (nobody seemed to know her name) doing a photo shoot in a skimpy bikini whilst middle-aged Israeli men with potbellies and hairy chests shamelessly gawked, rows of high-priced yachts docked at the Tel Aviv marina, an endless stream of private planes on final approach to small Sde Dov Airport, and two Israeli soldiers in drab green uniforms making out in the sand and drinking Heineken. A nation at war? It seemed more like high season at Coney Island…

 

Israel has a world class cultural scene. Want to see Franco Zeffirelli and Daniel Barenboim? No problem. The Alvin Ailey Dance Company visits. The opera plays to audiences at 97 percent capacity. Even at lower pay, [Israel] attracts the best talents from around the globe…

 

“Israel enjoys top universities, upscale restaurants, million-dollar homes, hoity-toity architecture, and the like. In the fourth quarter last year, when the global economy went all to hell, Israel’s annual, quarter-over-quarter rate of GDP was only off 0.5 percent, the best figure in the industrialized world. (The United States was off 6.3 percent and Japan 12.1 percent.) ‘Think about the resistance of our economy in recent times,’ suggests Zvi Eckstein, deputy governor of the Bank of Israel. ‘Our prime minister [has a stroke]. The war in Gaza. The war in Lebanon. The government gets replaced. But we’ve maintained a stable macroeconomic structure and a strong high-tech sector…’

What’s the secret? A very conservative banking system…No mortgage crisis…A current account surplus since 2003…Negligible inflation…Prudent governmental fiscal policy… Healthy integration into the world economy. Last year, 483 Israeli high-tech companies raised a whopping $2.08BN (only US companies raised more). All the major tech players – Google, Microsoft, IBM – have large research centers in Israel. They go where the talent is‘Israel is today the third-hottest spot [after Silicon Valley and Boston] for high-tech venture capital in the world…’ Israel produces more science papers per capita than any other country. Israel lags behind only the United States in number of companies listed on NASDAQ. Twenty-four percent of Israel’s workforce has a university degree; only the United States and Holland have a higher number. Israel leads the world in scientists and technicians per capita…

“The cell phone?  Developed in Israel. Ditto for most of the Windows NT operating system and for voice mail technology. Pentium MMX Chip technology? Designed in Israel.  AOL Instant Messenger? Developed in Israel. The list goes on. Firewall security software originated in Israel. The latest breakthrough is the “PillCam,” a video camera that can be swallowed and aids physicians in diagnosing intestinal cancer…it seems the other Israel–the land not of terrorists but of milk and honey and goats — may finally be being discovered.”




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Israel’s Covid-19 Economic Trends

Straight from the Jerusalem Boardroom #248
https://bit.ly/3u29k9g

Foreign investment in Israel’s high-tech companies surged to new heights in the 1st quarter of 2021 – $5.7bn in 172 deals – which is up 89% over the impressive 4th quarter of 2020 and double the volume of the 1st quarter of 2020.

2020 was the first year of surpassing $10bn in capital raised by the Israeli high-tech sector from investors in the US, Asia and Europe, who trust the maturity of Israel’s brain power. Investments in Israeli companies more than tripled in six years, reflecting the effective response by Israeli startups to the technological, medical, pharmaceutical, educational, social and digital challenges posed by Covid-19.

Israel’s economic performance in defiance of Covid-19 is presented by Dr. Adam Reuter, the Chairman and Founder of “Financial Immunities,” Israel’s largest financial-risk management firm, and the co-author of Israel – Island of Success:

  1. Israel has led the globe in the rapid administration of Covid-19 vaccinations due to effective negotiations with Pfizer and an efficient, country-wide medical infrastructure.
  2. Israel is the second lowest among OECD countries in the number of Covid-19 deaths per number of Covid-19 cases: 0.7% compared to the 2.3% OECD average. Israel features a young population (median age of 30 compared to the OECD’s 42) and an effective country-wide medical infrastructure, including top level HMOs and hospitals.
  3. Israel is ranked 12th from the bottom among the 37 OECD countries in the number of deaths per million inhabitants: 645 compared to 1,145 OECD average.
  4. The International Monetary Fund’s 2025 GDP growth forecast for OECD countries: Israel – 4%, OECD average – 2.2%, US – 1.8%, Australia – 2.5%, Ireland – 2.6%, France and Canada – 1.7%, the UK – 1.6%, Germany – 1.2%, etc.
  5. Israel’s 2020 GDP was reduced by 2.5%, compared to the OECD average reduction of 4.1%, South Korea – 1%, Norway – 0.8%, Australia – 2.6%, US – 3.5%, Japan – 4.8%, Germany – 5%, France – 8%, the UK – 10% reduction, etc. GDP growth was recorded in New Zealand – 2.4% and Ireland – 3.5%.
  6. In 2020, Israel was ranked 20th among the 37 members of the OECD in terms of GDP per capita, featuring $43,000 (GDP – $408bn), ahead of Japan, Italy and Spain, and very close behind the UK ($44,000) and France ($45,000).
  7. Israel’s debt-to-GDP ratio increased from 60% in 2019 to 72% in 2020, compared to the OECD’s average increase from 66% to 82%. The 2020’s debt-to-GDP ratio was 266% in Japan, Italy – 161%, the US – 131%, Germany – 73%, etc.
  8. Israel’s foreign exchange reserves-to-GDP ratio of 41% (3rd among the OECD countries) attests to its financial stability, and Israel’s capability to raise foreign credit promptly in a cost-effective manner. Israel’s foreign exchange reserves in March 2021 – $186bn.
  9. During the past decade, Standard and Poor (S&P) accorded Israel a positive credit rating trend, unlike the negative trend for the G-7 countries. In 2020, notwithstanding Covid-19, Israel’s credit rating (S&P) remained at AA.
  10. Some 380 global high-tech giants operate in Israel, including Microsoft, Amazon, IBM, Intel, Cisco, Apple, Verizon, Applied Materials, Dell, HP, Kodak, Oracle, Philips, SAP, Medtronics, GM, eBay, GE, etc. Israel leads the world in the ratio of research and development investment to GDP: 4.9%. 85% of this investment comes from the business sector.

 




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The post-1967 turning point of US-Israel cooperation

Israeli benefits to the US taxpayer exceed US foreign aid to Israel

Iran - A Clear And Present Danger To The USA

Exposing the myth of the Arab demographic time bomb